Well yesterday I had an interview for a leasing consultant position at a local apartment building here in the St. Cloud area. I just wanted to share this with everyone along with getting your suggestions.
The interview went great! I felt the property manager and I really connected and I have a good chance of getting the job (crossing my fingers). I feel as though this would be a great way to get in to the real estate industry and start learning hands on while I finish college. After college I plan on working in commercial property management while investing on the side.
I do realize this is a site for investing but I am sure there are users on here that work in property management. So here is my question, The pay for the job is $8.00/Hr. plus commission on unit rentals. Do you feel that is reasonable pay for the part-time position? I find it hard to leave my job at $10.75/Hr. to only 8+ commission, but I know it would be tremendous experience for myself and my resume. Any suggestion or good lucks will be very much appreciated!
Units in building: 112
Commission: $35/ unit rented by me.
Company: Owns 37 building throughout MN, so opportunity to move up through the company.
Hey @Kyle Soderman
It looks like you are still in college. Do not worry about making more money in college, it can lead to making a lot less money later in life & can lead to the wrong profession. With that being said congratulations on being on BP while you're in college. That's a great step and if you stay focused on education and getting the right professional experience then you are on your way to success.
It looks like you are majoring in real estate so I would assume your goal would be to work in the industry. A leasing position is perfect experience and don't worry about the $8/hr+ commission vs. the $10.75 that you currently make. Plus it sounds like the company is a good size PM firm with larger complexes across town. This will be great experience and is a perfect first step into the business. Without knowing too many details I would say take the position and focus on working your tail off (while still getting top notch grades). I would also try to latch on to a mentor within the company. Good luck!
I appreciate the suggestions @Chris Winterhalter ! That is also a good point about finding a mentor, the manager at the company seems like she would be a great mentor and I'd be working mostly 1-on-1 with her.
Anyone else have any thoughts in this?
go for it! I took a pay cut when I got into real estate too. Now I make four times what I made at the job I left. It will work out in the end. The experience you gain will be well worth the dip in pay. Just tighten your belts a bit!
Hands down go for it!!! Think about the $3.75 per hour as invaluable education for your future as a REI. Get in there and get involved with all aspects of the business and milk the mentors for as much knowledge as possible! I run a substantial portfolio and find myself doing the simple stuff a lot so it would be good to get a headstart on that. One caveat is to make sure that your future mentor knows that you are interested in learning as much you can so he won't be peeved when you pester him with questions.
Free eBook from BiggerPockets!
Join BiggerPockets and get The Ultimate Beginner's Guide to Real Estate Investing for FREE - read by more than 100,000 people - AND get exclusive real estate investing tips, tricks and techniques delivered straight to your inbox twice weekly!
- Actionable advice for getting started,
- Discover the 10 Most Lucrative Real Estate Niches,
- Learn how to get started with or without money,
- Explore Real-Life Strategies for Building Wealth,
- And a LOT more.
Sign up below to download the eBook for FREE today!
We hate spam just as much as you
Join the Largest Real Estate Investing Community
Basic membership is free, forever.